Greenpro Capital (NASDAQ:GRNQ) stock is dropping on Tuesday after the financial consulting and corporate advisory services company’s shares underwent a large rally during the prior day of trading.
This saw shares of GRNQ stock close out normal trading hours on Monday up more than 34%. That came with heavy trading as over 10 million units moved yesterday. To put that number in perspective, the daily average trading volume for Greenpro Capital shares is around 183,000.
This rally didn’t come without news. The catalyst behind it was Greenpro Capital’s announcement of a new strategic partnership. This partnership brings together Greenpro Capital, its subsidiary Green-X and Bank Islam Trust Company.
Greenpro Capital CEO Dr. CK Lee said this about the strategic alliance:
“We are extremely excited to have Bank Islam Trust as our strategic partner to penetrate the Muslim and Middle East communities. There is a huge demand for digital asset investments from the Middle East, and we will structure our STO and RWA assets as alternative investment products to cater to their demand.”
GRNQ Stock Movement Today
Considering the rally yesterday, it makes sense that GRNQ stock would give up some of those gains today. That has the stock falling 19.1% as of Tuesday morning. Traders will note that GRNQ shares were down 5.6% year-to-date when markets closed yesterday.
Today’s stock market movement comes with some 230,000 shares of GRNQ on the move. That’s already above Greenpro Capital’s daily average trading volume.
Investors will want to keep reading for more of the biggest stock market stories on Tuesday!
We have all of the hottest stock market happenings to report on today! That includes the latest news for Autonomix Medical (NASDAQ:AMIX) stock, Conduit Pharmaceuticals (NASDAQ:CDT) stock and Silo Pharma (NASDAQ:SILO) stock this morning. All of this info is ready to go at the links below!
More Stock Market News for Tuesday
- Why Is Autonomix Medical (AMIX) Stock Down 17% Today?
- Why Is Conduit Pharmaceuticals (CDT) Stock Up 73% Today?
- Why Is Silo Pharma (SILO) Stock Up 123% Today?
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
